Thomson Reuters has released a report that is designed to help accounting practitioners prepare their business clients for adoption of the Proposed Accounting Standards Update No. 2013-270: Leases, a revision of the 2010 proposed FASB update.

NEW YORK Thomson Reuters has released an overview of the Financial Accounting Standards Board’s (FASB) proposed accounting standards for leases.

The report is designed to help accounting practitioners prepare their business clients for adoption of the Proposed Accounting Standards Update No. 2013-270: Leases, a revision of the 2010 proposed FASB update.

“The proposed changes are a seismic shift in lessee accounting for operating leases,” says Anne-Lise Vivier, senior analyst at Thomson Reuters and author of the report. “All leases would be required to be capitalized, which would have a significant impact on reporting and documentation requirements for lessee preparers.”

The report is an example of the practical, insightful information available on Thomson Reuters Checkpoint, the industry-leading and award-winning online service that provides research, news, analysis, and productivity tools to tax, audit, accounting, legal, trade, and finance professionals.

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